Economists Say There Has Been a Change in Demand When

question 164

Multiple Choice

Economists say there has been a change in demand when there is

• A)a movement along the demand curve.
• B)a shift of the demand curve.
• C)a shift of the supply curve.
• D)a price change.
• E)a quantity change.

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Definitions:

Large Profit

A significantly high net income resulting from the difference between revenue and expenses.

Competitive Market Economy

A market structure characterized by many buyers and sellers, free entry and exit, and a product for which each firm is a price taker.

Economic Progress

The overall growth and improvement in a society's economy, marked by an increase in wealth, quality of life, and standards of living.

Airlines

Companies that provide air transport services for traveling passengers and freight, utilizing aircraft for domestic and international flights.